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East meets West: The interplay between Far Eastern tyremakers and western markets

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As this June edition of Tyres & Accessories went to press, we were all preparing for The Tire Cologne. Lauded as Europe’s leading tyre exhibition, the 2024 show will be an undoubtedly international event (see next month’s July issue for the review of what took place). Within Tire Cologne’s international remit, Tyres & Accessories understands that a number of well-known as well as up-and-coming Far Eastern manufacturers will be present this year. Since China is the world’s largest producer of tyres by unit volume, and in order to catch up with developments that have taken place post-Covid, T&A recently spent time in China meeting with numerous domestic and international tyremakers there.

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Heavy trailer sales outlook improves in Western Europe, but still down >9% in 2023

The war in Ukraine and the cost of energy plus general price inflation have replaced covid-19 as the principal threats to growth in trailer demand. Inflation rose to 10 per cent but is now moderating. Interest rates however are still relatively high but not increasing. That’s the view of analysts at Clear International who have published their first report on the Western Europe heavy trailer market since May 2022.

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Related news:

  1. Turkey leads strong Eastern Europe heavy trailer demand
  2. 2014 Eastern European trailer market flatlining
  3. East European trailer market hit again, but regional nadir also reached
  4. East European Trailer Market hit by more falls in Turkish vehicle demand
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Luca Frangi appointed Prometeon Eastern Europe CEO

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Prometeon

Prometeon Tire Group has appointed Luca Frangi as CEO for its Eastern European organisational structure. Frangi has almost 20 years of experience within Pirelli. He will take up his new position in July 2022. Prometeon added that Jarosław Krzempek will leave the company from 8 July 2022 to take advantage of new professional opportunities.

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Related news:

  1. Prometeon announces new worldwide organizational and commercial structure
  2. Tronchetti Provera proposes Prometeon chairman as deputy CEO of Pirelli
  3. Roberto Righi becomes deputy general manager at Prometeon Tyre Group
  4. Yokohama appoints ex-Prometeon COO as European president
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Vipal Rubber: 15 years of operations in Eastern Europe

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This year, retreading materials manufacturer Vipal Rubber is celebrating what it views as an important milestone – 15 years of operations in Eastern Europe. Vipal’s activities within this region began with the opening of a distribution centre in Slovenia in 2006, and today it supplies treads and other retreading products to approximately 50 customers there and in the Czech Republic, Slovakia, Poland as well as to markets in the Balkan and Baltic regions.

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Related news:

  1. Vipal: Optimism returning to Europe’s retreading sector
  2. Vipal expands online training opportunities
  3. Kraiburg share pro-retread stance at Czech customer workshop
  4. Vipal congratulates Croatia’s Gumiimpex on 50th anniversary
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Sentury Tire joins the Shenzen Stock Exchange

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Having received approval back in June, Qingdao Sentury Tire has successfully completed its Initial Public Offering (IPO) and is now listed on the Shenzhen Stock Exchange (China) as of 11 September 2020. 11 per cent of the company’s shares were valued at 1.31 billion yuan (162 million euros; £149.859 million) by investors, resulting in a theoretical total valuation of 1.47 billion euros. The offered shares offered were oversubscribed 2887 times over. But what is the company planning to do with its newly-raised funds?

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Related news:

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Eastern Europe trailer demand up and still growing

According to Clear International, demand for trailers grew by 3.6 per cent in Eastern Europe in 2018. The market has grown every year for the last six years, but that growth has been quite modest. Nevertheless, trailer sales in 2018 were the third highest on record, only surpassed in 2007 and 2008. The forecast for 2023 is that registrations of new trailers will be close to setting an all-time record.

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Related news:

  1. East European trailer market hit again, but regional nadir also reached
  2. Turkey leads strong Eastern Europe heavy trailer demand
  3. 2014 Eastern European trailer market flatlining
  4. Oil price, Ukraine crisis ‘devasting’ to trailer demand
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Wanli considering Europe for $1 billion tyre factory investment

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Wanli-owner Guangzhou Vanlead Group Co. Ltd. has indefinitely postponed plans to invest US$1 billion in the construction of a tyre factory in South Carolina, USA. Now the company is said to be considering alternative locations including some in Europe

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East European Trailer Market hit by more falls in Turkish vehicle demand

Market analysts at Clear report that the Eastern Europe trailer market has been hit by a severe downturn in the Turkish market for commercial vehicles. The forecast for Turkey in 2017 is for a fall in trailer demand of 29 per cent on the back of large declines in 2015 and 2016. Political instability had already undermined business confidence in early 2016 and then in mid-year there was an attempted military coup. This had a dire and worsening effect on business investment. As a result, a further 19,700 trailers have been wiped from the Turkish forecast.

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Related news:

  1. East European trailer demand downgraded due to Turkey instability
  2. 2014 Eastern European trailer market flatlining
  3. UK trailer market up 25 per cent, setting new record
  4. East European trailer market hit again, but regional nadir also reached
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East European trailer market hit again, but regional nadir also reached

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Recession, sanctions plus the plummeting oil price has had a devastating impact on the outlook for trailer demand in Russia. A year ago Clear International’s analysis suggested 24,000 trailers were wiped from the forecast published in March 2015. Six months ago a further 8,000 trailers were removed from the prognosis. In the current forecast yet another 4,000 trailers have been removed from the Russian outlook.

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Related news:

  1. 2014 Eastern European trailer market flatlining
  2. Oil price, Ukraine crisis ‘devasting’ to trailer demand
  3. East European trailer market stalls…again
  4. Has European Trailer demand peaked?
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Kwik Fit expanding into Italy, across Europe

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The Kwik Fit Group has agreed a partnership deal that sees the Kwik Fit tyre retail and fast-fit brand expand into Italy. Under the terms of the agreement, 200 centres are set to open over the next decade.

The expansion is based on a franchise agreement with CDG-ONE, part of Segema S.p.A., a leading tyre distribution group in Italy. Segema imports and distributes Yokohama tyres in Italy through Yokohama Italia S.p.A. and GiTi Tyres through Magri Gomme S.p.A.

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If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

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  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

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Related news:

  1. UK tyre retailers continue right-sizing
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  4. Kwik Fit owner Itochu prepares for sale scenario
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Oil price, Ukraine crisis ‘devasting’ to trailer demand

The instability in Ukraine plus the plummeting oil price has had a devastating impact on the outlook for trailer demand in Russia, according to new research published by Clear. Nearly 24,000 trailers were wiped from the last forecast for the 2015 – 2019 period in the report issued in March 2015. In the latest forecast a further 8,000 trailers have been removed from the forecast for Russia and the Ukraine.

Read more

Related news:

  1. East European trailer market hit again, but regional nadir also reached
  2. 2014 Eastern European trailer market flatlining
  3. East European trailer market stalls…again
  4. Turkey leads strong Eastern Europe heavy trailer demand
/by

Giti Tire makes two East European appointments

Giti Tire has appointed Ivo Yonov as business development manager – south east and Andrzej Paczkowski as marketing and retail development manager, strengthening its East European operation.

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Related news:

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  4. Mahle Aftermarket appoints Ramsay to develop ‘man with a van’ concept
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Europe, America or Asia – Nokian evaluating sites for a new tyre plant

Nokian Tyres already operates 13 production lines within its facilities in Russia and only has space to install one more. Company CEO Ari Lehtoranta says arrangements have been made to implement this extra line, and looking further ahead the company is “preparing plans” for its next factory. During a conference call on 8 May, he outlined the options the tyre maker was considering for this additional plant as well as the timetable for the related decision process.

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Related news:

  1. Difficulties in Russia drag down Nokian Tyres’ Q1 2015 net sales
  2. Decision on a third Nokian Tyres factory still months away
  3. Nokian Tyres’ US plant on track for 2020 start
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Michelin describes Exelagri plans as ‘ambitious’

As reported last month, Michelin is gearing up to make some changes to its Exelagri dealer network in Europe. In a UK-market press release, the tyre maker describes these changes to its agricultural tyre dealer programme as “ambitious growth plans” and says its enlarged, 1,000 outlet network aims to gain a 50 per cent share of the agricultural tyre market by 2024. While the release does not specify where this growth will take place, Tyres & Accessories understands that Exelagri growth efforts will focus on Eastern Europe.

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Related news:

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Eastern light vehicle markets set to grow, says Frost & Sullivan

A new study from Frost & Sullivan says that Eastern Europe and Central Asia offer very interesting opportunities for the light vehicles sector which includes passenger cars and light commercial vehicles. The study analyses this market in Kazakhstan, Uzbekistan, Ukraine, Azerbaijan, Belarus, Kyrgyzstan, Turkmenistan and Tajikistan, and finds that by 2021 the annual light vehicle sales volume in these eight countries is expected to reach nearly one million.

Read more

Related news:

  1. Linglong completes technical assistance to Uzbek tyre plant project
  2. Eurotire opens Kazakhstan location
  3. Qingdao Doublestar doubling capacity
  4. Tatneft invests in Kazakhstan tyre factory joint venture
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